An aircraft repair business will soon take up residence at the city of Slidell's airport. The City Council this week agreed to enter into a five-year contract with Innovative Turbine Aircraft Solutions.

The lease agreement calls for the company to pay $1,800 in monthly rent. But the company will put most of the rent, $1,400 per month, toward $41,000 in renovations to the hangar it will use at the airport. After it recoups the renovation money the company will then pay the entire $1,800 to the city each month, according to the lease.

Tim Mathison, chief administrative officer for Mayor Freddy Drennan, said Innovative currently is located at the Lakefront Airport in New Orleans. It will keep a location there, but will have a greater presence in Slidell, Mathison said.

Tim Mathison

Mathison said having an aircraft repair outfit at the site would increase traffic at the airport, which in turn will increase fuel sales. In the lease agreement with the city the company estimates that it will generate almost $87,000 in sales tax for the city during the five-year lease term.

In the cooperative endeavor agreement that is part of the lease, the city says it believes the company might be able to offer fixed base operator services - fueling, aircraft rental, instruction, etc. - at the airport in the future.

At the expiration of the initial lease, the company will have an option to renew for another five years at $2,000 per month.

The airport is about four miles northwest of the city on Airport Road. It encompasses 350 acres and has a 5,002-foot-long asphalt runway. It has one fixed base operator, 33 private hangars and National Weather Service station, the city says on its website.

City officials say the airport can be a catalyst for economic development. Councilman Joe Fraught noted as much after the council's vote. And Mathison said the city has developed a long-term plan for the facility.